EU Gives Caribbean Nations Ultimatum: End Citizenship-By-Investment Programs by 2028
The European Union has issued an ultimatum to five Caribbean nations: phase out their citizenship-by-investment programs by June 1, 2028, or risk losing visa-free travel to Europe. The affected countries are Antigua and Barbuda, Dominica, Grenada, Saint Lucia, and Saint Kitts and Nevis.
The EU has cited a lack of 'genuine link' between the investors and the host country as the reason for its demand. These programs grant citizenship to foreign nationals who make prescribed investments, including contributions to state funds and investments in approved real estate or infrastructure.
The investment threshold is set at $200,000, which is roughly Rs 1.9 crore excluding processing, due-diligence, and family-related fees. The passports issued by these countries allow visa-free short stays in the 29-country Schengen area, but do not confer a right to live or work in Europe.